What if we told you that you can potentially monetize your time spent playing your favorite games? In this article, we’ll do just that, and introduce you to the ins and outs of play-to-earn (P2E) crypto gaming, through which numerous people from around the world manage to secure unreal profits.
Many individuals who’d like to save up or boost their main earnings opt for part-time jobs, side hustles, or some other activity that generates the extra funds needed. With the rise of online working, however, new opportunities appear every day that unlock convenient, novel ways of securing side income for anyone.
One of these new chances can be found in the crypto world, and specifically in P2E games that are designed to compensate players for their effort and advancements. If this seems unbelievable at first, wait until we explain how exactly the mechanism works, and how you can also try the concept yourself in the following sections.
At their core, play-to-earn (P2E) games follow the same scheme, that is, rewarding players for their in-game progress with their own fungible, or non-fungible crypto tokens. Let’s take a look at the non-fungible token (NFT) rewards and mechanics first, as they are also integral parts of P2E games.
In most P2E ecosystems, NFTs play a vital role in allowing players to turn their progress into capital. Most in-game items, such as weapons, clothing, accessories, vehicles, property, and everything in between, are actually NFTs, which makes players who hold them in-game effective owners outside the programs, too. As such, they are able to auction or simply sell their items acquired or got as rewards while playing on NFT marketplaces for various crypto assets, which can then be converted into fiat currencies (e.g. USD, EUR, CAD).
On the other hand, NFTs are not the only ways of compensation, conventional crypto tokens can also serve as rewards, or as in-game currency, too. In this case, the equation is even less complicated, as users can exchange their newly acquired tokens right away for other crypto assets or fiat currencies.
Now that the basics are out of the way, let’s take a closer look at the specifics and discover the top P2E crypto games of our times.
Right off the bat, we have to talk about Axie Infinity, which is arguably one of the most popular P2E games out there. In it, players have to get, breed, and engage with creatures called Axies, which are all recorded as NFTs on Ethereum. The more advanced a player becomes, the better chances he has at breeding rarer Axies, or simply overcoming others and reaping rewards in the form of AXS crypto tokens. An interesting fact to show the potential of this game: the most expensive Axie ever sold for a whopping 300 ETH, equivalent to around $820,000 by that time.
Decentraland is one of the most widely adopted metaverses of its era, where hundreds of thousands of active players enjoy the novel features of its virtual reality. As in Axie Infinity, most items, property, and wearables in Decentraland are also NFTs, which allows users to profit from their progress by actually owning their in-game assets. Another element of this ecosystem’s P2E feature is MANA, its native crypto token, which has a variety of use cases in and outside its host metaverse, such as governance rights, NFT trading, and many more.
Play-to-earn crypto gaming can indeed provide decent side income for individuals around the world via all of its above-mentioned features. Whether you’d like to give these games a try as a player, or you’d rather invest in their crypto tokens, one thing seems certain, P2E gaming is here to stay and flourish for the upcoming times.
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